Town centre apartment scheme launches sale phase

The sales phase of a residential apartment scheme is now launching after being acquired in a £4m deal, which included three mixed use buildings in Rotherham town centre.

Rotherham Central, a mixed-use retail and residential development, was purchased in January by investment firm Modernistiq Developments

The sale comprised 61 PRS apartments and 23 retail units, distributed across three buildings, including the Victorian Imperial Buildings shopping arcade.

Since the deal was completed, Modernistiq Developments has been able to renew many of the tenancies at market rents and is now planning on the installation of a resident’s gym within one of the buildings.

Jordan Yorath, director of Yorath Property Group, is one of the agents selected by the developer to sell the apartments with prices starting from less than £60,000.

He said: “The portfolio includes very attractive apartments across three buildings in the town centre, directly opposite a major mixed use development, Forge Island, which is to include a cinema and other leisure facilities, so the apartments will without doubt continue to be popular and enjoy high occupancy levels for the foreseeable future.”